U.S. sues Bank Of America over mortgage-backed securities

By thinkadvisor | August 06, 2013 at 01:06 PM

The bank acknowledged in a filing last week that the DOJ intended to file civil charges.

The Department of Justice is going after Bank of America for allegedly misleading investors about the riskiness of about $850 million worth of mortgage-backed securities in 2008. The move is part of the White House's Financial Fraud Enforcement Task Force's RMBS Working Group.

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